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Power Finance Corporation takes stressed projects before NCLT

At a time when stressed projects and the bad loans of banks are in focus, state-run Power Finance Corp (PFC) has approached the National Company Law Tribunal (NCLT) to start insolvency proceedings against promoters of stressed power projects, officials said.PFC and other consortium lenders have filed appeals with the NCLT under the new Insolvency and Bankruptcy Code (IBC) in some of the cases which include thermal, gas-based, as well as hydro power projects, PFC officials said.The sources, however, refused to confirm media reports that projects with a total of 14,000 MW capacity and involving loans of around Rs 30,000 crore are being considered for taking up with NCLT.Media reports said the cases already before the NCLT include the Konaseem.....

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